Johnson & Johnson said Tuesday that it will cut up to 8,000 employees worldwide as part of a cost-savings plan that will allow the health-care giant to expand its business.
Source: CNN Money
Eli Lilly & Co. will shed about 5,500 jobs, or 14 percent of its workforce, and cut $1 billion in costs as the drugmaker braces to lose patent protection on its top-selling Zyprexa antipsychotic.
Source: Bloomberg
International pharmaceutical company AstraZeneca has announced plans to lay off 113 employees at its manufacturing plant in Westborough starting next month.
The job cuts amount to a roughly 10 percent reduction in the England-based AstraZeneca’s entire Massachusetts workforce, which is split between the Westborough plant, located at 50 Otis St., and a research and development facility in Waltham.
Source: WikedLocal.com
Kaiser Permanente on Tuesday disclosed plans to eliminate 1,200 jobs in Northern California (about 2 percent of its Northern California workforce), citing uncertainties over the economy, federal health care legislation and shrinking reimbursements for Medicare.
The jobs will be eliminated in the Bay Area, the Sacramento region, and the Central Valley area south to Fresno, Kaiser spokesman Jim Caroompas said.
Roughly one-third of the affected positions are temporary, on-call, or short-hour positions. All 1,200 of the positions are unionized.
Source: The Oakland Tribune
Johnson & Johnson cuts about 900 jobs in one of its pharmaceutical units, about 6 percent of its U.S. pharmaceutical positions, after its biggest-selling drugs lost sales to generic copies.
Source: Bloomberg
Merck & Co. (MRK) has laid off about 750 U.S. sales representatives so far this year as part of a previously announced cost-cutting program designed to offset sluggish sales growth.
Many of the affected sales reps were notified earlier this year but some received notices Monday, said Merck spokeswoman Amy Rose.
The sales-force layoffs are part of the 7,200 positions company-wide that Merck announced in October it planned to eliminate by the end of 2011. Merck has about 55,000 employees worldwide.
Source: CNNMoney
~News submitted by upthecreek
According to Reuters, CNBC: “King Pharmaceuticals Inc (NYSE: KG) is cutting 760 jobs, or 22 percent of its workforce, as part of a restructuring designed to reduce costs, the company said on Tuesday. About 240 of the job losses are corporate positions associated with King’s $1.6 billion acquisition of drugmaker Alpharma Inc. Of the rest, about 380 are in sales and about 140 are corporate.”
~News submitted by upthecreek
GSK (NYSE: GSK) is putting the finishing touches to plans which will see in the region of 6,000 global positions axed as it faces up to the growing challenges in the industry.
Competition from generic manufacturers and doubts about company pipelines are posing a serious threat to the sector and, in a bearish note last week, ING analysts warned of an “intellectual property meltdown” as top-selling products come off patent and sales slow dramatically.
Glaxo’s UK rival, AstraZeneca, said on Thursday that it will cut 15,000 staff by 2013, 6,000 more than initially thought, while industry leader Pfizer has acquired US rival Wyeth for $68bn (£47bn) as it seeks a different route of consolidation.
Source: the Daily Telegraph
Pfizer announced Monday that it has signed a deal to acquire the smaller drugmaker Wyeth for $68 billion, and tens of thousands of job cuts will follow.
Pfizer spokesman Ray Kerins said that two waves of job cuts would occur in 2009. In the first, Pfizer said it would cut 10% of its 81,900 staff - about 8,000 jobs.
Kerins said that Pfizer will launch the second round of job cuts once its merger with Wyeth and its 50,000 workers is completed in the third or fourth quarter. At that time, Kerins said Pfizer will cut 15% of the combined company’s 120,000 or so workers - about 18,000 more job cuts.
Source: CNN Money
U.S.-based pharmaceutical company Pfizer Inc. (NYSE: PFE) is going to lay off as many as 800 researchers this year.
The world’s largest pharmaceutical company by sales Tuesday told scientists and technicians at its labs around the world that it is eliminating their jobs, according to a person familiar with the matter. By year end, the New York drug maker expects to have laid off 5% to 8% of its 10,000 research employees, according to Martin Mackay, who heads Pfizer’s research and development.
Source: The Wall Street Journal
Oracle Layoffs Discussion (RSS)Powered by WordPress